Two senior HSBC executives reportedly set to leave ahead of annual bonus payouts, Bloomberg says

James Grafton, global head of cash equities trading of HSBC (0005), and Steve Jobber, HSBC's head of cash equity trading for Europe, Middle East and Africa, are expected to depart the bank ahead of the upcoming bonus season, according to Bloomberg.

Grafton joined HSBC in Hong Kong in 2018 and was promoted to his current role last July, while Jobber joined the bank in 2023.

HSBC's net profit fell 7.6 percent year-on-year to US$23.1 billion (HK$180.18 billion) in 2025, down US$1.9 billion from 2024.

A bank spokesperson told Bloomberg that it does not comment on individual cases but added that, as part of its "high-performance culture," HSBC is committed to attracting and retaining talent.

Earlier, Bloomberg also reported that HSBC plans to encourage underperforming employees, including managing directors to leave after bonus payments, with some bankers expected to receive minimal or even no bonuses.

Cynthia ZHONG